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Euro US Dollar Exchange Rate Strengthens despite ECB’s Cautious Tone  Despite taking a cautious tone about the uncertainty of the Eurozone outlook, the European Central Bank (ECB) policy decision was well-received today and the Euro US Dollar (EUR/USD) exchange rate strengthened.  Since opening at the level of 1.1983 this week, EUR/USD has trended with a largely upside bias as the Euro (EUR) benefits from US Dollar (USD) weakness.  Earlier in the week, EUR/USD touched on a high of 1.2076. This was the pair’s best level in about a month and a half, and the pair has been trending closely to that high since. 

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